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Restructuring (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Summary of Restructuring Charges

We recorded restructuring charges (gains) which are reflected in the Consolidated and Combined Statements of Operations, as follows:

(in millions) For the year ended December 31,						2023						2022						2021
Crane Payment Innovations						$	0.5					$	6.2					$	(0.9)
Crane Currency						—						—						(2.8)
Total restructuring charges (gains), net						$	0.5					$	6.2					$	(3.7)

The following table summarizes our restructuring charges (gains), net by program, cost type and segment for the years ended December 31, 2023, 2022 and 2021:

For the years ended December 31,			2023																		2022															2021
(in millions)			Severance						Other						Total						Severance						Other						Total						Severance						Other						Total
Crane Payment Innovations			$	0.1					$	0.4					$	0.5					$	5.7					$	0.5					$	6.2					$	—					$	—					$	—
2022 Restructuring			0.1						0.4						0.5						5.7						0.5						6.2						—						—						—
Crane Payment Innovations			$	—					$	—					$	—					$	—					$	—					$	—					$	(0.8)		(a)			$	—					$	(0.8)
Crane Currency			—						—						—						—						—						—						—						(2.8)						(2.8)
2020 Restructuring			—						—						—						—						—						—						(0.8)			(a)			(2.8)						(3.6)
Crane Payment Innovations			$	—					$	—					$	—					$	—					$	—					$	—					$	(0.2)		(a)			$	—					$	(0.2)
2017 Restructuring			—						—						—						—						—						—						(0.2)			(a)			—						(0.2)
Total			$	0.1					$	0.4					$	0.5					$	5.7					$	0.5					$	6.2					$	(1.0)					$	(2.8)					$	(3.8)

(a) Reflects changes in estimates for increases and decreases in costs related to our restructuring programs.

The following table summarizes the cumulative restructuring charges incurred through December 31, 2023.

			Cumulative Restructuring Charges
(in millions)			Severance			Other			Total
Crane Payment Innovations			$	5.8		$	0.9		$	6.7
2022 Restructuring			$	5.8		$	0.9		$	6.7
Crane Payment Innovations			$	15.8		$	0.7		$	16.5
Crane Currency			—			1.1			1.1
2020 Restructuring			$	15.8		$	1.8		$	17.6
Crane Payment Innovations			$	11.4		$	0.3		$	11.7
Crane Currency			0.1			0.4			0.5
2017 Restructuring			$	11.5		$	0.7		$	12.2

Restructuring Liability

The following table summarizes the accrual balances related to these restructuring charges by program:

(in millions)						2022 Restructuring			2020 Restructuring			2017 Restructuring									Total
Severance:
Balance as of December 31, 2021 (b)						$	—		$	—		$	0.1								$	0.1
Expense (a)						6.2			—			—									6.2
Utilization						(0.2)			—			(0.1)									(0.3)
Balance as of December 31, 2022 (b)						$	6.0		$	—		$	—								$	6.0
Expense (a)						0.5			—			—									0.5
Utilization						(5.9)			—			—									(5.9)
Balance as of December 31, 2023 (b)						$	0.6		$	—		$	—								$	0.6

(a)			Included within “Restructuring charges (gains), net” in the Consolidated and Combined Statements of Operations.
(b)			Included within Accrued Liabilities in the Consolidated and Combined Balance Sheets.

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- References

No definition available.

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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